All Posts By

Dorothy Coleman

Business Community Raises Serious Concerns About Treasury’s Debt-Equity Rules

By | Shopfloor Policy, Taxation | No Comments

The NAM today joined 23 other business organizations in sending a letter to Treasury Secretary Lew outlining the severe impact of recent debt-equity rules proposed by Treasury on global and domestic businesses of all sizes throughout the U.S. economy.

The far-reaching and unexpected proposal released by Treasury April 4 gives the government broad authority to recast related party debt as equity, imposing new taxes on businesses and threatening legitimate and well-established business practices, from corporate reorganizations to day-to-day cash management. While the proposal was released as part of a package of guidance designed to curb cross-border mergers, these extremely broad regulations have nothing to do with this activity and will have a significant negative impact on a wide range of global and domestic manufacturers in the United States. Read More

Brussels’ Bad Idea Is Getting Worse

By | Shopfloor Policy, Taxation | No Comments

Earlier this year, the NAM was quick to push back against the European Union’s (EU) plan to make public tax and profit reports for global companies operating in EU countries. Not only has the EU ignored our concerns, but it has proposed going one step further and extending the public reports proposal to so-called “tax havens,” which are to be determined by the EU.

Manufacturers believe that a fair and transparent tax climate helps boost living standards and economic growth everywhere. In contrast, requests for much more information than needed to assess a company’s tax liability, coupled with the public disclosure of this tax and financial information, will threaten economic growth and competitiveness on a global basis. Read More

Treasury Waves a Wand and Makes a Bad Tax System Much Worse

By | Shopfloor Main, Shopfloor Policy, Taxation | No Comments

It is abundantly clear to manufacturers in the United States that our current tax code has to go—it’s complicated and arcane, holds back economic growth and makes us less competitive. While we’re working hard to get lawmakers to update and improve our nation’s tax system, Treasury Secretary Jack Lew, with a stroke of a pen, managed to make a bad system significantly worse. Read More

Manufacturers Look to Treasury for Guidance on Global Tax Information Reports

By | Shopfloor Policy, Taxation | No Comments

In recent months, the NAM criticized some of the recommendations coming out of the Base Erosion and Profit Shifting (BEPS) plan spearheaded by the Organisation for Economic Co-operation and Development, particularly new information disclosure rules that will force companies to disclose sensitive business information and impose additional and unnecessary compliance burdens on them. Read More

Manufacturers Find Little to Celebrate in President Obama’s Last Budget

By | Shopfloor Policy | No Comments

At its core, the final budget blueprint released today by the Obama administration represents just another “tax and spend” plan that would increase federal spending while imposing a wide range of tax increases on businesses, making it harder for manufacturers to create jobs and compete in the global economy and do nothing to stimulate much-needed economic growth. Read More

Another Bad Idea Coming Out of Brussels

By | Shopfloor Policy, Taxation | No Comments

Recent reports that the European Union is working on legislation to require global companies to publically disclose tax and other financial information is raising red flags for U.S. manufacturers that operate in European countries. The latest information disclosure proposal—coming on the heels of the new information requirements in the Base Erosion and Profit Shifting (BEPS) plan finalized late last year by the Organisation for Economic Co-operation and Development (OECD)— would impose additional compliance costs on companies and force disclosure of sensitive taxpayer information, creating a whole new set of unnecessary business challenges for global companies. Read More

Setting the Record Straight on Corporate Taxes

By | Shopfloor Policy, Taxation | No Comments

As strong and vocal advocates for comprehensive tax reform that includes lower corporate tax rates and a modern, territorial tax system, manufacturers applaud the Alliance for Competitive Taxation (ACT) for busting some often repeated “myths” about corporate taxes. The ACT’s Tax Facts—released today—corrects the record on some of the misconceptions, misstatements and outright falsehoods that the NAM has been pushing back against for years. Here are some of our favorites: Read More

BEPS: A Continuing Threat to U.S. Competitiveness

By | Shopfloor Policy, Taxation | No Comments

In comments on January 28, House Ways and Means Committee Chairman Kevin Brady (R-TX) said that the European Commission’s latest efforts to implement recommendations in the Organisation for Economic Co-operation and Development’s (OECD) Base Erosion and Profit Shifting (BEPS) project will make it even harder for U.S. companies to compete in the global marketplace. This is a serious concern for manufacturers and an issue the NAM has raised numerous times with the media, the administration and Capitol Hill. Read More

Manufacturers Welcome Boustany Bill to Address Problems with BEPS

By | Shopfloor Policy, Taxation | No Comments

Late last month, the NAM sent a letter to Rep. Charles Boustany (R-LA), a member of the House Ways and Means Committee, endorsing legislation (H.R. 4297) he recently introduced. The aptly named Bad Exchange Prevention (BEPS) Act addresses some of manufacturers’ concerns with the recommendations in the Base Erosion and Profit Shifting (BEPS) project spearheaded by the G-20 and the Organisation for Economic Co-operation and Development.
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